- I took a few days off from blogging. I've read a few books and watched some football. As I mentioned previously, I like to go back and re-read some of the previous trading books just to see them with more-experienced eyes. I re-read the Market Wizards book from Jack Schwager. The 1990 version. I've also started The New Market Wizards from 2005. Next in the queue is Entries and Exits by Alexander Elder. Of course, I've read a couple novels, too. Not just trading books.
- The markets are moving sideways it seems. I remain with a good cash position and low beta stock holdings. Don't see a reason to rush into anything more volatile right now. Semis and tech don't look good. I've been trading some small caps, but that's been mixed lately so I've slowed down.
- I haven't been on the web much the last few days. I have followed the political stuff as the Democrats swept into Congress. I've also read the plans for the "First 100 Hours" when the Democrats take over in 2007. They are (emphasis mine):
We will restore civility, integrity, and fiscal responsibility to the House of Representatives. We will start by cleaning up Congress, breaking the link between lobbyists and legislation and commit to pay-as-you-go, no new deficit spending.
We will make our nation safer and we will begin by implementing the recommendations of the independent, bipartisan 9/11 Commission.
We will make our economy fairer, and we will begin by raising the minimum wage. We will not pass a pay raise for Congress until there is an increase in the minimum wage.
We will make health care more affordable for all Americans, and we will begin by fixing the Medicare prescription drug program, putting seniors first by negotiating lower drug prices. We will also promote stem cell research to offer real hope to the millions of American families who suffer from devastating diseases.
We will broaden college opportunity, and we will begin by cutting interest rates for student loans in half.
We will energize America by achieving energy independence, and we will begin by rolling back the multi-billion dollar subsidies for Big Oil.
We will guarantee a dignified retirement, and we will begin by fighting any attempt to privatize Social Security.
- I'll be keeping score along the way. The Democrats have mentioned that that may target the alternative minimum tax first, and I think that'd be great and most Republicans would be in favor of fixing that.
- Cold here in Sacramento. Yeah, 50's. I know, nowhere near as cold as back east or north, but we're fair weather folks out here.